FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

English (en) Based on the following account balances, what will be the total amount of Gross Margin? Account Title Balance Cash $10,000 Sales Revenue $35,000

image text in transcribed
English (en) Based on the following account balances, what will be the total amount of Gross Margin? Account Title Balance Cash $10,000 Sales Revenue $35,000 Transportation out $2,000 Salary Payable $5,000 Cost of Goods Sold $15,000 Inventory $3,000 a. $35,000. b. $18,000. c. $20,000 d. None

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting Tools For Business Decision Making

Managerial Accounting Tools For Business Decision Making

Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell

9th Edition

111970958X, 9781119709589

More Books

Students also viewed these Accounting questions

Question

★★★★★
Columbia Video Sales Ltd. reported the following data. The shareholders are very happy with Columbia's steady increase in net income. Auditors discovered that the ending inventory for 2012 was...

Answered: 1 week ago

Question

★★★★★
The unadjusted trial balance of Medium Company, Inc., as of December 31, 1990, the end of its annual accounting period, follows. \section*{Required} 1. Prepare a work sheet form on note paper and...

Answered: 1 week ago

Question

★★★★★
Recount key applicant characteristics preferred by clinical psychology graduate programs.

Answered: 1 week ago

Question

★★★★★
Naturally Good Foods reports inventory at the lower of average cost or market. Prior to releasing its March 2012 financial statements, Naturallys preliminary income statement, before the year-end...

Answered: 1 week ago

Question

★★★★★
The management of Edelmann Corporation is considering the following three investment projects: Rank the projects according to the profitability index, from most profitable to least profitable. T, S,...

Answered: 1 week ago

Question

★★★★★
Jarod Douglas Jones is a young professional just getting started in the world. He has been having some difficulty getting his checkbook,, to match his bank statement, Last month all he had to do was...

Answered: 1 week ago

Question

★★★★★
Do you want to buy a $ 2 5 9 , 0 0 0 home. Do you plan to pay 1 5 % as a down payment and take out a 3 0 year loan for the rest . A . How much is the loan amount going to be ? B . What will your...

Answered: 1 week ago

Question

★★★★★
Reminder: Your answers will be assessed based on content (i.e., the quality of the information presented; integration of class and text material), and organization. Your answers must make explicit...

Answered: 1 week ago

Question

★★★★★
Just clear organized easy answers to each question attached below, please. No copy paste. You are considering organizing an event to raise funds for a special cause (children living in poverty,...

Answered: 1 week ago

Question

★★★★★
Data is collected from 250 college students to determine if regular class attendance is related to overall Grade Point Average (GPA). The results are below. Percentage of Class Meetings Attended...

Answered: 1 week ago

Question

★★★★★
The headline of a news article posted on cbsnews.com read, "A 'coin flip': Nearly half of U.S. murders go unsolved as cases rise." Suppose that the probability a murder is successfully solved is...

Answered: 1 week ago

Question

★★★★★
Suppose the random variable X follows a normal distribution with mean = 54 and standard deviation following. a) P(X 60) c) P(49 Answered: 1 week ago

Answered: 1 week ago

Question

★★★★★
=+To convince fastidious moms that Tide will get out the toughest stains because of its enzyme-fighting formula.

Answered: 1 week ago

Question

★★★★★
=+2. Who is the audience?

Answered: 1 week ago

Question

★★★★★
=+1. Why does the brand want to advertise? What does it want to accomplish? (Use this template.)

Answered: 1 week ago

Previous Question Next Question